Computer Hardware Asset, Depreciation, and Expense Clarification
cgsmith
chris at cgsmith.net
Tue Oct 18 23:05:37 EDT 2011
We recently purchased a $1500 server. I understand that it is an asset and
will depreciate over 7 years. However, most examples use credit cards which
posts to the asset account. I used my debit card (checking account) to
purchase it.
So does the transaction post to the asset account just as I would a credit
card? What about the invoice I received from newegg and pay via debit? Does
that post to the expense account?
Can someone please clarify this.
Thank You,
Chris
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